OBA’s $165m gamble costing Bermudians dear

  • Sitting idle: unfinished residential units at the Caroline Bay complex in Morganís Point (Photograph by Blaire Simmons)

    Sitting idle: unfinished residential units at the Caroline Bay complex in Morganís Point (Photograph by Blaire Simmons)

  • Michael Scott

    Michael Scott


By all indications, when the Dunkley administration decided to gamble with $165 million in taxpayerís money, they knew that the Morganís Point project was on shaky financial footing. That begs the question; why take such a risky, high-stakes gamble with so much of the peopleís money?

One can only assume that the One Bermuda Alliance, having broken so many promises, faced so many protests as a result of their anti-Bermudian policies and seen the defection of two of their founding members, found themselves in a state of desperation, and like all men drowning they reached out to whomever they thought could save them; a big announcement, a loud press event and a flashy photo-op, promises to Bermudians of a new hotel, new jobs and new opportunities, was an irresistible prospect for the OBA.

In their desperation they put short, and what eventually were shown to be unsuccessful political gains, over the public purse and the best interests of Bermudians. They gambled big and now we have all been forced to face cleaning up the former non-contrite finance ministerís mess.

The repercussions of the OBAís irresponsible and reckless gamble are far-reaching.

First, there are Bermudian companies and Bermudian workers who are owed money. Second, our standing with global ratings agencies have been threatened.

Third, by backing a tourism project with so many problems, the OBA have also made the job of attracting more tourism investment to our shores even more difficult. A real mess.

Yet Bob Richards, the former finance minister and the author of the mess has declared if he had to do it again he would do nothing differently.

In real terms though, they have made life more difficult for Bermudians. Just imagine where we would be if we didnít have to clean up the OBAís $165 million mess?

Money that could have gone towards educating our people, training and retraining Bermudian workers, scholarships, building new schools, supporting our youth and providing relief to our seniors; all lost.

The OBA paid the price for broken promises and anti-Bermudian policies at the polls. Now they need to come clean about the Morganís Point deal and why they gambled with the future of Bermuda and against the best interest of Bermudians.

ē Michael Scott is the Progressive Labour Party MP for Sandys North (Constituency 36)

You must be registered or signed-in to post comment or to vote.

Published Sep 16, 2019 at 8:00 am (Updated Sep 16, 2019 at 7:56 am)

OBA’s $165m gamble costing Bermudians dear

What you
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon

  • Take Our Poll

    • "Which of these is the worst political gaffe of modern times"
    • Craig Cannonier getting on that plane
    • 11%
    • Michael Fahy pressing on with Pathways to Status
    • 10%
    • Bob Richards's 'Money doesn't grow on trees' speech
    • 5%
    • Lt-Col David Burch and ATVs
    • 9%
    • Wayne Caines and the London cereal cafe
    • 44%
    • Zane DeSilva's mystery shopper cruise
    • 21%
    • Total Votes: 5373
    • Poll Archive

    Today's Obituaries

    eMoo Posts